DIRS.INFO The most relevant business & tech news

McDonald’s is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants. Local value offerings have been on menus across the country and in the app as of late, including 10 piece nuggets for $1, among other deals, as a part of the broader value strategy. While operators are still voting on the 2025 value offerings, the initiative looks likely to pass, two people familiar with the matter said. In its most recent quarter, McDonald’s reported earnings and revenue that topped expectations, but saw its same-store sales fall globally by 1.5%. And when you do that with news and great marketing, you can get strong full margin check that goes along with some of those value programs,” he said.

Persons: McDonald’s, that’s, Chris Kempczinski, ”, coli Organizations: CNBC Locations: U.S

☆ McDonald’s has temporarily stopped selling espresso drinks at some US locations
▼ + stars: | 2024-11-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —A machine is giving McDonald’s a headache, and this time it’s not the one that makes ice cream. Melitta, the manufacturer of the $3,000 espresso machine, informed customers of a problem with the equipment, forcing McDonald’s to temporarily decommission them while the issue is resolved. As a result, McDonald’s customers can’t order its espresso-based drinks, including frappés and Americanos. The chain recently launched a spinoff restaurant called CosMc’s that focuses on specialty coffee drinks. “One area of focus has been identifying ways for McDonald’s to participate in attractive and fast-growing categories … we’ve honed in on specialty beverages and coffee,” McDonald’s CEO Chris Kempczinski previously said.

Persons: McDonald’s, Melitta, ”, it’s, Chris Kempczinski Organizations: New, New York CNN, CNN Locations: New York, Atlanta, Dallas, Pittsburgh , New York, Tampa , Florida

☆ McDonald’s spends $100 million to lure customers back after E. coli outbreak
▼ + stars: | 2024-11-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s is spending $100 million on marketing and to help franchises most heavily affected by a recent E. coli outbreak that has sickened more than 100 people and damaged sales. In a memo sent to employees and obtained by CNN, McDonald’s is spending $35 million on marketing, which includes a value deal focused on its chicken nuggets, plus $65 million directed toward franchisees that have lost business in states where the outbreak happened. Visits and sales took a nosedive in October after the Centers for Disease Control and Prevention and the Food and Drug Administration said that fresh slivered onions served on the Quarter Pounders were the likely source of an E. coli outbreak. More than 100 people got sick across 14 states and several lawsuits have been filed against the chain. McDonald’s has said recent tests showed no E. coli in its food, and in the memo noted its Quarter Pounder burgers topped with slivered onions are now back on menus nationwide.

Persons: New York CNN —, McDonald’s, ”, Michael Gonda, Tariq Hassan, Chris Kempczinski Organizations: New, New York CNN, CNN, Centers for Disease Control, Food and Drug Administration Locations: New York, North America

☆ Fast food chains are locked in a 'value war' for US customers
▼ + stars: | 2024-11-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Fast food chains say they're locked in a "value war" to win increasingly choosy US customers. As a flurry of summer deals come to an end, quick-serve chains say they're now locked in a "value war" to win increasingly choosy US customers. Between higher ingredient usage and other costs on the one hand, and a more competitive consumer economy, interim CEO Scott Boatwright said Chipotle was well-positioned to win the "value war" in fast-casual dining. "We absolutely believe that value in an environment of value-seeking consumers is not about only executing price-pointed promotions and value deals and value bundles — there's more to that." Plosch added that beyond the burger chain's creative promotions, the core menu remains essential to getting customers to come back.

Persons: —, Michael Zuccaro, Chipotle, Scott Boatwright, Brian Niccol, who's, we've, Alex Kaleida, Chris Kempczinski, Kempczinski, Ian Borden, Shack, Robert Lynch, Gunther Plosch Organizations: Service, Starbucks

☆ Why fast-food chains and big brands love loyalty programs
▼ + stars: | 2024-11-01 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Fast-food chains and retailers are using loyalty programs to drive sales amid inflation challenges. AdvertisementRetailers and fast-food chains are leaning into loyalty programs to drive sales. Starbucks' loyalty program is also growing. AdvertisementThe power lies in the perksHowever, a good loyalty program should be about more than just the points. Advertisement"In a marketplace where choices are endless, a strong loyalty program doesn't just retain customers, it also builds a relationship that feels personal and valuable," she said.

Persons: —, McDonald's, Chris Kempczinski, Kempczinski, It's, Laxman Narasimhan, Paschal, Lindsey Wasson, Burger, Kevin Shahnazari, Zsuzsa Kecsmar, Zarina Stanford, doesn't, Kecsmar Organizations: Service, Global, Starbucks, Costco, AP, KFC, Burger King, Nike Locations: Colorado

☆ Bigger portions return to Chipotle after skimping complaints
▼ + stars: | 2024-10-30 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +2 min

CNN —Chipotle customers have complained that portion sizes are all over the map. Frustrated Chipotle customers took to posting on social media this year, accusing the company of skimping on servings. He added that about 10% of stores were outliers in portion sizes and would be re-trained. Chipotle employees were never directed to serve customers less, Niccol said, but the claims prompted a reevaluation of the entire system. He said there’s a been a noticeable shift from previous unhappiness and customers are “really excited” about Chipotle’s new portion sizes.

Persons: Scott Boatwright, Chipotle, Chris Kempczinski, pico de, Brian Niccol, Niccol, ” Organizations: CNN, “, Employees, New, Starbucks Locations: skimping, Wells, New York City, portioning

Despite a difficult quarter, McDonald’s looks resilient in the face of various pressures, analysts say — something the company shares with U.S. consumers overall. “The spotlight is always on McDonald’s because it’s so big” and something of a “bellwether,” she said. That spurred former President Donald Trump to sling fries this month at a Philadelphia-area McDonald’s in a photo op. Like many major brands, McDonald’s raked in big profits as the economy reopened from the pandemic. “The thing that McDonald’s had struggled with, and why I think we’re seeing kind of an inflection point, is a value proposition,” Senatore said.

Persons: McDonald’s, Mickey D’s, Chris Kempczinski, Kempczinski, Gordon Haskett, ” Kempczinski, Ravi Dhar, ”, Sara Senatore, Kamala Harris, Donald Trump, Mickey D’s ’, Senatore, they’d, —, Eric Thayer, ” Senatore, Sam Oches, Oches, ‘, “, Jim Salera, Stephens, Jack Kleinhenz, hasn’t, “ They’re, ” Oches Organizations: U.S, Yale University’s Center, Bank of America, Bloomberg, Getty, Coca, Walmart, Target, Walgreens, JetBlue, Democratic, National Retail, JPMorgan Locations: U.S, Philadelphia, Connecticut, Amazon

☆ McDonald's executives say E. coli outbreak is 'behind us'
▼ + stars: | 2024-10-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

A week after health authorities publicly linked a deadly E. coli outbreak to McDonald's Quarter Pounder burgers, the company's CEO, Chris Kempczinski, told investors that the situation is now behind them. On Sunday, McDonald's said Quarter Pounder burgers would return to the roughly 900 restaurants where the company had pulled the menu item following the outbreak. McDonald's has stopped sourcing onions from the supplier indefinitely and will return the Quarter Pounder to menus sans slivered onions. As of Friday, 75 health cases across 13 states have been tied to the outbreak, including one death of an older adult. At least three lawsuits have already been filed against McDonald's by victims of the outbreak.

Persons: Chris Kempczinski, we've, Kempczinski, McDonald's, Ian Borden, Borden Organizations: and Drug Administration

☆ McDonald's reverses U.S. same-store sales declines in the third quarter, but E. coli fallout looms
▼ + stars: | 2024-10-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's on Tuesday reported quarterly earnings and revenue that beat analysts' expectations as its U.S. restaurants reversed last quarter's same-store sales decline. It's the second straight quarter that the company's same-store sales have fallen. U.S. same-store sales rose 0.3%, reversing last quarter's same-store sales declines but still slightly weaker than the 0.5% increase predicted by StreetAccount estimates. The company's two international divisions both reported steeper declines in same-store sales compared with the prior quarter. The international developmental licensed markets division reported same-store sales declines of 3.5%, driven by weak demand in the Middle East and China.

Persons: McDonald's, Ian Borden, Chris Kempczinski, Kempczinski Organizations: Health, LSEG Locations: France, Germany, Australia, East, China

☆ McDonald's says store visits and sales dropped in wake of E. coli outbreak
▼ + stars: | 2024-10-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

McDonald's says daily sales took a hit as some customers avoided its restaurants during the E. coli outbreak. AdvertisementA number of McDonald's US customers stayed away from the arches last week as news of the E. coli outbreak spread. The company said Tuesday that daily sales took a hit as customers avoided its restaurants during the health scare. Related storiesOver the weekend, health officials linked the outbreak to slivered onions from a single supplier, an ingredient ordinarily used on McDonald's Quarter Pounder burgers. McDonald's began resuming sales of Quarter Pounders in the affected areas this week, although some locations will not serve the entrée with onions.

Persons: McDonald's, —, Ian Borden, Chris Kempczinski, Borden, Kempczinski, we've Organizations: Service Locations: Colorado

☆ McDonald's sales dropped for the 2nd quarter in a row as customers keep tightening their belts
▼ + stars: | 2024-10-29 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

McDonald's global sales fell for the second consecutive quarter, down 1.5%. AdvertisementGlobal sales at McDonald's have fallen for a second consecutive quarter as the fast-food chain struggled in international markets, especially France, the UK, China, and the Middle East. Sales were down 1.5% in its third quarter, following from a 1% slide in the previous quarter, ending June 30. Comparable sales in the US were virtually flat, up 0.3% from the same period in 2023, while sales in international markets dropped 2.1%. Sales in licensed international markets fell 3.5%.

Persons: —, Chris Kempczinski, Neil Saunders Organizations: Service, Consumers Locations: France, China, McDonald's

☆ McDonald’s needed to win Americans back. Then came an E. coli outbreak
▼ + stars: | 2024-10-28 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Even for a brand as gargantuan as McDonald’s, the last few months have been… a lot. The timing of the outbreak is especially challenging for McDonald’s as it has been trying to win back customers who’ve been put off by higher prices. Over the summer McDonald’s did an about face to try to win people back. “It had been a pretty strong quarter.”And absent the E. coli outbreak, Tuesday’s earnings call might have been all about the value menu and the Crocs. The length and severity of the outbreak is now a wild card for analysts as they assess McDonald’s financial future.

Persons: CNN Business ’, Chris Gaulke, Cornell University’s Nolan, who’ve, Chris Kempczinski, McDonald’s, They’ve, ” RJ Hottovy, it’s, ” Hottovy, “ McDonald’s, McDonald’s didn’t, “ We’ve, Sara Senatore, Chipotle, ” Senatore, “, ”, Wendy’s Organizations: CNN Business, New York CNN, shimmer, New York Mets, Cornell University’s, Cornell University’s Nolan School of Hotel Administration, Associated Press, Colorado Department of Agriculture, Bank of America, Wendy’s Locations: New York

Three Democratic senators are asking McDonald’s about its menu price hikes in recent years, arguing that the increases are higher than they should be — even with inflation and rising operating costs. McDonald’s prices have raised eyebrows. It also asked whether McDonald’s executives received bonuses or other incentive-based compensation from 2020 to 2024 and whether any incentives were based on executives’ ability to increase per-customer profits. Large corporations “owe consumers transparency when they hike menu prices,” Wyden said in a statement to NBC News. “Fast food chains, like McDonald’s, are raking in profits while families struggle to buy meals that are meant to be affordable and accessible.”

Persons: Elizabeth Warren of, Bob Casey of Pennsylvania, Ron Wyden, Chris Kempczinski, “, ”, McDonald’s, Joe Erlinger, —, Erlinger, Warren, Madeleine Dean, General Mills, Casey, Kempczinski, ” Wyden Organizations: Democratic, Oregon, NBC News, USA, Roosevelt Institute, Mac, Cola, PepsiCo, Wall, McDonald’s Locations: Sens, Elizabeth Warren of Massachusetts, U.S, Connecticut, shrinkflation, ”

☆ Sorry fast food fans — your burger is only going to get more expensive
▼ + stars: | 2024-10-14 | by ( Nora Redmond | ) www.businessinsider.com time to read: +6 min

Beef prices in the US are rising due to a historic drought and herd liquidation. Fast food chains like McDonald's and Burger King have already raised prices due to inflation. AdvertisementInflation has not been kind to food prices — especially for eating out. AdvertisementThe USDA reported that this led to record retail beef prices, with an all-fresh value of $8.15 per pound for July. "The reality is over the next couple of years, beef prices are going to continue to go higher," Zimmerman said.

Persons: Burger King, —, Chris Kempczinski, Burger, Lance Zimmerman, Rabo AgriFinance, McDonald's, Erin McDowell, Zimmerman, Taco Bell, Jay Bandy, Bandy, Dudler Organizations: Service, Starbucks, McDonald's, KFC, Brands, Department of Agriculture, Goliath Consulting, Accenture Locations: Olive, Taco, Georgia

☆ True Value declares bankruptcy and sells itself to a hardware rival
▼ + stars: | 2024-10-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. True Value said its stores will remain open, because they are not part of the bankruptcy proceedings. In bankruptcy court filings, True Value said it faces a significant cash crunch as the housing market stalled and consumers have become far more picky about discretionary purchases like hardware. Bigger rivals like Home Depot and Lowe’s have also been in a yearslong slump since the pandemic boom, but they remain in a significantly stronger financial situation than True Value. Do it Best is a member-owned wholesaler that sells hardware, lumber and other home goods to independent stores.

Persons: ”, Chris Kempa, Dan Starr, there’s Organizations: New, New York CNN, Home Locations: New York

☆ McDonald’s is finally selling the Chicken Big Mac in the US
▼ + stars: | 2024-10-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —When McDonald’s rolled out the Chicken Big Mac in the United Kingdom, it sold out within 10 days. The Chicken Big Mac is similar to its beefy sibling; however, it replaces the two burgers with two tempura chicken patties. It also includes the signature Big Mac sauce, pickles, shredded lettuce and a slice of American cheese. In a press release Thursday, McDonald’s says that its customers have been “clamoring” for the Chicken Big Mac after making previous appearances on the chain’s menu across the world. The Chicken Big Mac has made a brief appearance in the US before: In 2022, McDonald’s released it as a test in some of its Miami restaurants to gather feedback from customers.

Persons: McDonald’s, Chris Kempczinski, it’s, ” Organizations: New, New York CNN Locations: New York, United Kingdom, United States, Ireland, Miami, Canada

☆ McDonald’s $5 value meal is sticking around until December
▼ + stars: | 2024-09-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —The McDonald’s $5 meal deal is staying on menus until December, a sign that inflation-weary customers are devouring value meals recently offered by fast food chains. The Chicago-based fast-food giant announced the $5 meal deal in June. In July, McDonald’s said that the vast majority of restaurants would keep it on the menu until August. The meal features either a McChicken sandwich or McDouble cheeseburger, small fries, 4-piece Chicken McNuggets and a small soft drink. McDonald’s also announced a slew of fall deals — from $0.50 Double Cheeseburgers for National Cheeseburger Day on Sept. 18 to a $2 McCrispy sandwich for National Fried Chicken Sandwich Day on Nov. 9.

Persons: McDonald’s, Chris Kempczinski, Burger, we’re, ” Joe Erlinger Organizations: New, New York CNN, McDonald’s USA Locations: New York, Chicago

☆ McDonald’s is giving its McFlurry a makeover
▼ + stars: | 2024-09-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Nearly a year after McDonald’s ditched the hollow plastic spoon, more changes are coming for the McFlurry. McDonald’s set a goal in 2018 to reduce greenhouse gas emissions from its offices and restaurants by 36% between 2015 and 2030. In 2023, McDonald’s phased out the McFlurry plastic spoon, which doubled as a spindle that inserted into a machine to mix in the toppings. Also rolling out next week is a smaller McFlurry serving size, called the Mini McFlurry, for customers looking for a petite or more budget-appeasing dessert option. Adding more value-minded items, like a Mini McFlurry, could help McDonald’s reposition the chain as a source for budget-friendly food.

Persons: McDonald’s, Chris Kempczinski, “ Organizations: New, New York CNN Locations: New York

☆ Restaurant CEOs’ new favorite word is value as they aim to bring back customers
▼ + stars: | 2024-08-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

"The word 'value' has received a lot of airtime in the past few months," Josh Kobza, the CEO of Burger King parent company Restaurant Brands International , said on Thursday. Value for shareholdersA drive-through area of a Burger King restaurant in Peoria, Ill. Daniel Acker | Bloomberg | Getty ImagesCompanies aren't just thinking about offering value for customers — they're also thinking about shareholder value. For example, Burger King was one of the first chains to unveil a $5 value meal this summer. When its rivals followed suit with their own $5 discount deals, the Restaurant Brands chain didn't see any clear impact to its business. "There are actually some positives to the focus on value across the industry," Restaurant Brands' Kobza told CNBC.

Persons: Mario Tama, McDonald's, Josh Kobza, Burger, There's, Taco Bell, Papa, Ravi Thanawala, Chris Kempczinski, Richa Naidu, Kempczinski, it's, Brian Niccol, Adam Jeffery, Niccol, John Peyton, IHOP, It's, Peyton, Daniel Acker, — they're, They're, Burger King, Kobza Organizations: Getty, Taco Bell, Yum Brands, Restaurant Brands, Bureau of Labor Statistics, Burger King, Reuters, Grill, CNBC, Brands, Peoria , Ill, Bloomberg, Starbucks, U.S Locations: Burbank , California, Burger King, Oak Brook , Illinois, Peoria ,

☆ McDonald's says its $5 meal deal is just the tip of the iceberg
▼ + stars: | 2024-08-01 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Its CEO said in a new interview that its temporary $5 deal is just the start of its refocus on value. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Kempczinski suggested that this deal is just the start of a renewed push into value for the chain. This story is available exclusively to Business Insider subscribers.

Persons: McDonald's, —, CNBC's, Chris Kempczinski, Kempczinski Organizations: Service, Business

☆ McDonald's says fast food sales are suffering most in California
▼ + stars: | 2024-08-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

McDonald's says fast food sales are suffering most in California. McDonald's raised menu prices in CA to offset the state's $20 minimum wage for fast-food workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMcDonald's CEO says fast food sales are suffering in California as menu prices increased to offset the state's $20 minimum wage for fast-food workers. "You're seeing in California, the business there is falling off to a greater degree than what you're seeing in other markets around the US," CEO Chris Kempczinski told CNBC's Squawk Box.

Persons: McDonald's, Kempczinski, —, Chris Kempczinski, CNBC's, We've Organizations: Service, Business Locations: California, CA

☆ Watch CNBC's full interview with McDonald's CEO Chris Kempczinski
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with McDonald's CEO Chris KempczinskiChris Kempczinski, McDonald’s president and CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, rollout of the $5 value menu, impact of minimum wage increase in California, and more.

Persons: Chris Kempczinski Chris Kempczinski Locations: California

☆ McDonald's CEO on state of the consumer: Seeing category slowdown from almost every major market
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald's CEO on state of the consumer: Seeing category slowdown from almost every major marketChris Kempczinski, McDonald’s president and CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, rollout of the $5 value menu, impact of minimum wage increase in California, and more.

Persons: Chris Kempczinski Locations: California

☆ McDonald's has started selling an even bigger burger — the 14-ounce Big Arch
▼ + stars: | 2024-07-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The burger contains two beef patties, three slices of white processed cheese, crispy onions, raw onions, pickles, lettuce, and a new Big Arch sauce in a sesame seed bun, per a description of the burger on the McDonald's Portugal website. Advertisement"It's a quintessential McDonald's burger with a twist on our iconic familiar flavors," he said. The burger weighs 395 grams (about 14 ounces) and contains 1,065 calories, per McDonald's Portugal. "We thought the opportunity was about premium burger which was wrong," CFO Ian Borden said earlier this year. Another part of the plan included McDonald's launch of its "Best Burger" strategy last year, changing its burgers' ingredients and how they're cooked.

Persons: —, It's, Chris Kempczinski, Kempczinski, McDonald's, it's, Borden, Ian Borden Organizations: Service, Business Locations: Canada, Portugal, Ontario, Alberta, Lisbon

☆ McDonald's executives admit diners think prices are too high, say they're working to create value
▼ + stars: | 2024-07-29 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

McDonald's executives acknowledged Monday that diners consider the company's prices too high as lower-income consumers balk after years of high inflation. During the company's second-quarter earnings call Monday, executives said they are taking a "forensic approach" to evaluating prices and trying to create value. We are working to fix that with pace," McDonald's CEO Chris Kempczinski said on the company's earnings call. The offer also began to increase guest count growth, but it has not yet translated into sales increases, company executives said on the call. The $5 value meal was rolled out only days before the second quarter ended.

Persons: Chris Kempczinski, Kempczinski, Joe Erlinger, Erlinger, we've, — CNBC's Amelia Lucas, Kate Rogers Locations: U.S, Placer.ai

Search resuls for: "Chris Kemp"

25 mentions found